Prism Cement plans to raise Rs 100 crore via bonds

06 Jul 2011

Prism Cement plans to raise Rs 100 crore via 2, 3 and 4-year bonds. The company will raise Rs 20 crore through two-year bonds at 11.20 percent, Rs 50 crore via three-year bonds at 11.60 percent and Rs 30 crore via four-year bonds at 11.80 percent. The issue is rated ‘AA-’ by ICRA and opens on July 11 and closes on July 13.

Last year in December, Prism Cement had resumed production of clinker in Unit - II at Satna, which had been temporarily suspended due to an accident in the Blending Silo. The company began commercial production from Unit-II of its project based at Satna, Madhya Pradesh earlier in September. The unit had capacity to produce 3.6 million tonnes of cement.

Prism Cement is cement manufacturing company. The company manufactures and markets Portland Pozzollana Cement (PPC) under the brand name ‘Champion’ which is company’s largest selling product.

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